iRadimed Corp. to Post Q3 2016 Earnings of $0.09 Per Share, Roth Capital Forecasts (IRMD)
iRadimed Corp. (NASDAQ:IRMD) – Stock analysts at Roth Capital reduced their Q3 2016 EPS estimates for shares of iRadimed Corp. in a research report issued on Wednesday. Roth Capital analyst C. Lewis now expects that the brokerage will post earnings per share of $0.09 for the quarter, down from their previous estimate of $0.19. Roth Capital has a “Neutral” rating and a $11.50 price objective on the stock. Roth Capital also issued estimates for iRadimed Corp.’s Q4 2016 earnings at $0.04 EPS and FY2016 earnings at $0.51 EPS.
Separately, Zacks Investment Research lowered iRadimed Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th.
iRadimed Corp. (NASDAQ:IRMD) opened at 10.32 on Monday. iRadimed Corp. has a 52 week low of $9.76 and a 52 week high of $33.25. The stock has a market cap of $110.14 million, a P/E ratio of 14.83 and a beta of 1.28. The firm has a 50-day moving average price of $16.91 and a 200-day moving average price of $18.07.
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iRadimed Corp. (NASDAQ:IRMD) last issued its earnings results on Friday, July 29th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The firm had revenue of $9.90 million for the quarter, compared to the consensus estimate of $9.60 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business’s quarterly revenue was up 30.3% compared to the same quarter last year.
In other news, VP Steven M. Nardi sold 2,096 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $17.11, for a total value of $35,862.56. Following the transaction, the vice president now directly owns 1,996 shares in the company, valued at approximately $34,151.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 69.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Menta Capital LLC raised its position in iRadimed Corp. by 18.3% in the first quarter. Menta Capital LLC now owns 33,833 shares of the company’s stock valued at $648,000 after buying an additional 5,230 shares in the last quarter. State Street Corp increased its stake in shares of iRadimed Corp. by 18.4% in the first quarter. State Street Corp now owns 31,473 shares of the company’s stock valued at $603,000 after buying an additional 4,900 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of iRadimed Corp. by 42.9% in the second quarter. Bank of New York Mellon Corp now owns 22,065 shares of the company’s stock valued at $480,000 after buying an additional 6,626 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of iRadimed Corp. by 39.6% in the second quarter. California State Teachers Retirement System now owns 8,484 shares of the company’s stock valued at $185,000 after buying an additional 2,405 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of iRadimed Corp. during the second quarter valued at approximately $1,011,000. Institutional investors and hedge funds own 20.74% of the company’s stock.
iRadimed Corp. Company Profile
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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